Charlestown RI Real Estate Market June 2014 Update
The Charlestown RI estate market update for June 2014 is provided by Ginny Lacey Gorman of RI coastal real estate.
Home inventory under $300,000 in Charlestown is lacking for home buyers and sells quickly when it comes on the market. Furthermore, home buyers have indicated they want well priced homes that need minimal updating and sellers need to understand this fact.
Realizing this is more of a high end home market which may skew sales prices upwards but when you have the Atlantic Ocean at your doorstep, home prices can be in the higher range. This month saw no homes on the ocean close for over $1 million.
This is a waterfront and/or rural community here depending upon your desire for your Charlestown home location. Home sales here for the month of June are down by 5 homes over the prior month, yet pending home sales are up by 4 homes. This community is into the summer market well.
Home buyers are actively seeking good land values and lower priced affordable homes under $300,000. Both of these real estate gems will continue to be ‘hot’ this year.
Nestled in the southern part of Rhode Island, between the towns of Westerly and South Kingstown RI, this town offers oceanfront residences as well as country homes for the home buyer. It is the stunning coastline, quiet neighborhoods, beach side homes and serene landscapes that draw home buyers to this Charlestown location. Here is the June 2014 home sales update for the month, as follows:
- Properties active and on the market: 120 ( 4% more homes than prior month)
- Single-family properties closed: 9 ( 36% less homes than prior month)
- Average sales price: $420,000
- Median sales price: $305,000
- Sales price to list price ratio: 93%
- Average days on the market: 86
- Sales currently pending: 13 (44% increase over prior month)
Charlestown RI real estate sales slipped a bit in June. No luxury oceanfront homes sold for over $1 million which negatively impacted average and median home sale prices.
Charlestown’s home absorption rate remains a buyers real estate market.
-
Home absorption is the amount of time it will take to sell all the homes currently on the market without any additional homes being added to the current real estate market.
-
Home inventory increased in June, pending sales increased by 4 homes and Charlestown RI home closings decreased by 5 homes.
-
Breakdown of the 9 Charlestown RI home sales is as follows for the month: 3 homes sold under $300,000, 2 homes sold between $300,000-$400,000 and 4 homes sold over $400,000. Charlestown RI homes sales still indicate that the best value for location, taxes and coastal living is the under $400,000 home market here where the strongest housing demand is.
Charlestown RI Real Estate Market June 2014 Update
Comparing the year to date 2013 to year to date 2014 through June home sales showed and upwards trend by 41% and home sale prices in Charlestown are up 4%. All positive news for Charlestown home sellers.
From coastal Charlestown homes to the rural country homes. You are never far from the ocean and the Rhode Island beaches here. It is a great time to buy in the Quonnie area too if you are looking at true waterfront, walk to water or oceanfront Charlestown homes for sale.
Looking for a Charlestown RI waterfront real estate agent ? Ginny Lacey Gorman knows her local RI coastal real estate market. I would like the opportunity to assist you in your home search or sale. Knowing current FEMA flood map changes, building construction needs in coastal areas and staying abreast of RI septic changes is a part of my skills set.
Past Charlestown RI Market Reports:
May 2014 Charlestown RI Real Estate Market Report
April 2014 Charlestown RI Real Estate Market Report
May this Charlestown RI home sales report update for June 2014 guide you in your RI real estate decisions.
